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Pharmacia in 1 Mil-SF G.D. Searle Disposition

SKOKIE, IL- Following its merger earlier this year with Monsanto, drug giant Pharmacia Corp. is unloading nearly 1 million-sf of properties formerly occupied by G.D. Searle and Co., which itself was acquired by Monsanto in an earlier deal.

By Ted Jackson | Updated on October 09, 2000

SKOKIE, IL-Drug giant Pharmacia Corp. is disposing of the former G.D. Searle and Co. headquarters building here and other sites formerly occupied or owned by Searle, according to Transwestern Commercial Services, which has been retained by Pharmacia Corp. to advise on what will likely be a series of transactions. Earlier this year, Pharmacia merged with Monsanto Corp., which itself acquired G.D. Searle in an earlier deal.

Transwestern says that nearly 1 million-sf of property will be involved in the disposition, including the former G.D Searle headquarters building on Old Orchard Road just off the Edens Expressway. “Transwestern will provide a variety of corporate advisory services, including strategic planning, marketing, leasing and sales,” says Phil Utigard, the Transwestern executive who will be handling the Pharmacia account. Merle Ocken, site consolidation leader at New Jersey-based Phamacia, says he expects the planning phase of the process will be complete in 45 days.

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